Envestnet Asset Management Inc. Acquires 4,421 Shares of Piper Sandler Companies $PIPR

Envestnet Asset Management Inc. raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,549 shares of the financial services provider’s stock after purchasing an additional 4,421 shares during the period. Envestnet Asset Management Inc. owned 0.46% of Piper Sandler Companies worth $22,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Piper Sandler Companies by 495.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Piper Sandler Companies by 48.1% during the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 37 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Piper Sandler Companies during the 1st quarter valued at approximately $37,000. Geneos Wealth Management Inc. raised its stake in Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 54 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Piper Sandler Companies by 80.3% in the first quarter. IFP Advisors Inc now owns 247 shares of the financial services provider’s stock valued at $63,000 after buying an additional 110 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PIPR shares. Wolfe Research raised shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective on the stock in a research note on Thursday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Zacks Research downgraded Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Piper Sandler Companies presently has a consensus rating of “Hold” and a consensus price target of $312.50.

Insiders Place Their Bets

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 2,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $322.69, for a total value of $645,380.00. Following the completion of the sale, the general counsel owned 12,645 shares of the company’s stock, valued at $4,080,415.05. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Up 0.9%

Shares of NYSE:PIPR opened at $326.61 on Wednesday. The company has a 50-day moving average price of $340.29 and a 200 day moving average price of $302.71. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $374.77. The company has a market cap of $5.78 billion, a P/E ratio of 27.56 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The business had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter in the prior year, the firm posted $2.57 EPS. The company’s revenue was up 33.3% compared to the same quarter last year. Analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s payout ratio is presently 21.10%.

Piper Sandler Companies Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.